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The People’s Bank of China announced today that it has decided to retain The one-year loan rate (LPR) is 3.35%. And the five-year loan rate associated with most mortgages is 3.85%.
OBE interest rate Still at an all-time low.
Becky Liu, director of China macro strategy at Standard Chartered Bank, said the decision was expected as it would be too early to cut interest rates again immediately after a 10 basis point cut in June.
However, Bloomberg reported that she did not rule out the possibility that the People’s Bank of China will further cut interest rates in the third quarter of this year.
Data recently released by China’s National Bureau of Statistics (NBS) showed that the number of people detained in China increased by 5% year-on-year in the first half of 2024.
China’s GDP in the first six months of this year was worth approximately RMB 61.68 billion, or approximately EUR 7.94 billion.
In the second quarter of 2024, China’s economy grew by 4.7% year-on-year.
The International Monetary Fund (IMF) said in its July forecast that China’s economy will grow 5% in 2024 and slow to 4.5% next year.
(Telegraph Biznis/Tanjug)
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